COLUMBIA, Mo. – Missouri REALTORS® is pleased to share with you a monthly statistics report highlighting the Missouri real estate market for the month of September, including third-quarter results.
In September, Missouri REALTORS® sold 7,609 residential properties. Of those sales, the average residential property sold for $287,227. Compared to the average sale price of $265,715 in September 2021, there was an 8.1% increase. The median residential sale price also increased from $225,000 in 2021 to $243,000 in 2022.
In terms of total dollar volume, Missouri REALTORS® saw a decrease of 8.8 percent. Over 2.1 billion dollars in September 2022 was generated compared to 2.3 billion dollars for the same period last year.
Regarding third-quarter results, 24,550 residential properties were sold in Missouri from July to September. The total quarterly sales volume topped 7.2 billion dollars and homes sold at a consistent pace during the third quarter of 2022, staying on the market for 26 days. That is one day longer compared to the same three-month period last year. The median sales price for the third quarter increased eight percent compared to the same period in 2021, coming in at $243,000.
Additionally, interest rates in September saw continued growth. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.11 percent in September compared to 5.22 percent in August. By comparison, the interest rate in September 2021 was 2.9 percent.
Visit Market Statistics to view a full report of the data presented, including additional resources and information.
Founded in 1936, Missouri REALTORS® is the largest trade association in the state serving over 25,000 members. As members of organized real estate, REALTORS® subscribe to a strict code of ethics and have access to numerous services and programs to enhance their professionalism within the real estate industry. Through collective strength, influence, and professionalism, Missouri REALTORS® unite to advocate for real property rights in Missouri, deliver comprehensive risk management programs and services, connect members through various media and events and deliver association management services.